EEX marks first anniversary of Japan Power trading business
The European Energy Exchange (EEX) has set a new milestone in its Power Derivatives business by becoming the No1 platform in Japan Power Futures trading in less than 12 months.
In the first quarter of 2021, EEX achieved a 96 per cent market share of volume with 2.32 TWh traded in the first three months of the year.
“As the biggest exchange in power trading worldwide, EEX has a proven track record in building new markets together with its customers. I’m very proud of what we have achieved in Japan over the past 12 months and in particular, our market leading position. I am confident that we will continue to see further growth throughout 2021 and beyond,” says Peter Reitz, EEX CEO.
Since launching in May 2020, EEX’s Japan Power product suite has quickly established itself as the benchmark contract in Japanese Power trading, attracting a customer base both domestically in Japan and internationally around the world. Liquidity has also continued to build significantly month on month with January ’21 traded volumes exceeding 1 TWh in a single month.
Speaking on the first anniversary of the EEX Japan Power launch, Steffen Koehler, EEX COO said; “The progress we have made over the past year is as a result of the collective efforts from all parts of the Japan Power value chain, who have worked together to build something new and special. Over the past 12 months I have experienced true partnership and collaboration from our customers in Japan and around the world.
“What we have achieved together is incredible and we share today’s success with our customers and partners. On behalf of the EEX management board and the Japan Power team, I would like to offer my sincere thanks to everyone who has played their part in building this new and incredibly exciting market”.
To date, more than 20 companies from Japan and around the world are now actively trading the EEX Japan Power Futures contracts on a continual basis which has resulted in more than 3 TWh of volume being traded since launch.